EUR/JPY - 1H - Technical analysis published on 10/23/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
56%
11%
33%
My opinion
Bullish above 164.13 JPY
My targets
165.20 JPY (+0.59)
167.90 JPY (+3.29)
My analysis
The bullish trend is currently very strong on EUR/JPY. As long as the price remains above the support at 164.13 JPY, you could try to benefit from the boom. The first bullish objective is located at 165.20 JPY. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 167.90 JPY as an objective. Crossing it would then enable buyers to target 169.54 JPY. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
7.5
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Additional analysis
Quotes
The EUR/JPY price is 164.61 JPY. The price has increased by +0.87% since the last closing and was between 163.17 JPY and 165.02 JPY. This implies that the price is at +0.88% from its lowest and at -0.25% from its highest.163.17
165.02
164.61
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this EUR/JPY chart shows a strongly bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner detects a bearish signal on moving averages that could impact this trend:
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : 1 hour
An assessment of technical indicators shows a moderate bullish signal.
Other results related to technical indicators were also found by the Central Indicators scanner:
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : 1 hour
MACD crosses DOWN its Moving Average
Type : Bearish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
The presence of these Japanese chandelier patterns detected by Central Candlesticks that could impact the current short-term trend were also noted:
White hanging man / hammer
Type : Neutral
Timeframe : 1 hour
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 163.45 | 163.61 | 164.13 | 164.61 | 169.54 | 172.65 | 175.06 |
Change (%) | -0.70% | -0.61% | -0.29% | - | +2.99% | +4.88% | +6.35% |
Change | -1.16 | -1.00 | -0.48 | - | +4.93 | +8.04 | +10.45 |
Level | Intermediate | Intermediate | Intermediate | - | Major | Minor | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 161.87 | 162.32 | 162.76 | 163.21 | 163.65 | 164.10 | 164.54 |
Camarilla | 162.95 | 163.03 | 163.11 | 163.19 | 163.27 | 163.35 | 163.44 |
Woodie | 161.86 | 162.32 | 162.75 | 163.21 | 163.64 | 164.10 | 164.53 |
Fibonacci | 162.32 | 162.66 | 162.87 | 163.21 | 163.55 | 163.76 | 164.10 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 159.92 | 160.89 | 161.68 | 162.65 | 163.44 | 164.41 | 165.20 |
Camarilla | 162.00 | 162.16 | 162.32 | 162.48 | 162.64 | 162.80 | 162.96 |
Woodie | 159.84 | 160.85 | 161.60 | 162.61 | 163.36 | 164.37 | 165.12 |
Fibonacci | 160.89 | 161.56 | 161.97 | 162.65 | 163.32 | 163.73 | 164.41 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 147.30 | 151.22 | 155.64 | 159.56 | 163.98 | 167.90 | 172.32 |
Camarilla | 157.76 | 158.52 | 159.29 | 160.05 | 160.82 | 161.58 | 162.34 |
Woodie | 147.54 | 151.35 | 155.88 | 159.69 | 164.22 | 168.03 | 172.56 |
Fibonacci | 151.22 | 154.41 | 156.38 | 159.56 | 162.75 | 164.72 | 167.90 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
RSI (14): | 69.11 | |
MACD (12,26,9): | 0.3800 | |
Directional Movement: | 17.17 | |
AROON (14): | 71.43 | |
DEMA (21): | 164.86 | |
Parabolic SAR (0,02-0,02-0,2): | 165.01 | |
Elder Ray (13): | 0.10 | |
Super Trend (3,10): | 164.06 | |
Zig ZAG (10): | 164.65 | |
VORTEX (21): | 1.2800 | |
Stochastique (14,3,5): | 71.61 | |
TEMA (21): | 164.98 | |
Williams %R (14): | -32.14 | |
Chande Momentum Oscillator (20): | 0.22 | |
Repulse (5,40,3): | -0.0600 | |
ROCnROLL: | 1 | |
TRIX (15,9): | 0.0300 | |
Courbe Coppock: | 1.20 |
MA7: | 162.92 | |
MA20: | 162.26 | |
MA50: | 160.89 | |
MA100: | 164.70 | |
MAexp7: | 164.70 | |
MAexp20: | 164.35 | |
MAexp50: | 163.77 | |
MAexp100: | 163.35 | |
Price / MA7: | +1.04% | |
Price / MA20: | +1.45% | |
Price / MA50: | +2.31% | |
Price / MA100: | -0.05% | |
Price / MAexp7: | -0.05% | |
Price / MAexp20: | +0.16% | |
Price / MAexp50: | +0.51% | |
Price / MAexp100: | +0.77% |
Quotes :
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Real time data
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Forex
News
Don't forget to follow the news on EUR/JPY. At the time of publication of this analysis, the latest news was as follows:
- EUR/JPY Forecast October 2, 2024
- EUR/JPY Forecast September 20, 2024
- EUR/JPY Forecast September 18, 2024
- EUR/JPY Forecast September 3, 2024
- EUR/JPY Forecast August 28, 2024
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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